Citigroup Inc. Has $106.65 Million Stake in Marsh & McLennan Companies, Inc. $MMC

Citigroup Inc. reduced its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 15.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,792 shares of the financial services provider’s stock after selling 87,202 shares during the quarter. Citigroup Inc. owned 0.10% of Marsh & McLennan Companies worth $106,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Marsh & McLennan Companies by 51.2% in the fourth quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock valued at $1,856,000 after buying an additional 2,960 shares in the last quarter. Bison Wealth LLC boosted its holdings in shares of Marsh & McLennan Companies by 39.6% in the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 869 shares in the last quarter. Private Advisor Group LLC grew its position in Marsh & McLennan Companies by 1.2% during the 1st quarter. Private Advisor Group LLC now owns 12,808 shares of the financial services provider’s stock worth $3,125,000 after acquiring an additional 146 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Marsh & McLennan Companies by 7.6% during the 1st quarter. Kestra Private Wealth Services LLC now owns 11,839 shares of the financial services provider’s stock valued at $2,889,000 after purchasing an additional 840 shares in the last quarter. Finally, OneAscent Financial Services LLC raised its position in Marsh & McLennan Companies by 44.2% in the 1st quarter. OneAscent Financial Services LLC now owns 3,164 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 970 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MMC. Cantor Fitzgerald began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $248.00 to $242.00 in a research report on Thursday, October 9th. Barclays reduced their target price on shares of Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. The Goldman Sachs Group raised shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and lowered their price target for the company from $200.00 to $195.00 in a report on Monday, October 20th. Finally, Morgan Stanley reduced their price objective on Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $228.63.

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $180.26 on Wednesday. Marsh & McLennan Companies, Inc. has a 1 year low of $174.18 and a 1 year high of $248.00. The company’s 50-day moving average is $192.27 and its two-hundred day moving average is $207.18. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. The company has a market cap of $88.31 billion, a PE ratio of 21.61, a PEG ratio of 2.25 and a beta of 0.78.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same period in the prior year, the business posted $1.63 earnings per share. Marsh & McLennan Companies’s revenue was up 11.5% compared to the same quarter last year. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Thursday, October 2nd were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Thursday, October 2nd. Marsh & McLennan Companies’s dividend payout ratio is currently 43.17%.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.